Kotak Nets US$90 Million For Infrastructure P.E. Fund

Mar 14 2013 | 10:40am ET

India’s Kotak Mahindra Bank has raised more than one-third of the US$250 million it hopes to garner for an infrastructure private equity fund.

The Mumbai-based bank said this week that it had raised US$90 million for the Core Infrastructure India Fund, which will invest in power, water, waste management and gas companies in the subcontinent. India’s government has said the country needs as much as US$1 trillion in infrastructure investments over the five years between April 2012 and March 2017.

Kotak’s Singapore unit will manage the new fund, which debuted in 2011.

Kotak itself has put up some of the fund’s initial capital, and has won commitments from a Brookfield Asset Management affiliate, Japan Bank for International Cooperation, Mitsui Banking Corp. and an unidentified insurance company, The Wall Street Journal reports.

Kotak said it hopes to raise a further US$160 million for the fund by next year.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...